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Stock Alert: Deckers Outdoor Spikes On Upbeat Results

Shares of Deckers Outdoor Corporation (DECK), that designs, markets, and distributes innovative footwear, apparel, and accessories, are climbing more than 7% after its fourth-quarter results surpassed estimates.

Earnings of $0.57 per share beat the average estimate of analysts polled by Thomson Reuters at $0.21 per share.

Net sales for the quarter, however, decreased 4.9% year-over-year to $374.9 million but beat the estimates of $374.19 million.

"Fiscal year 2020 performance was driven by the strength of our brand portfolio, fueled by targeted investments in our key initiatives, coupled with disciplined financial management," said Dave Powers, President, and Chief Executive Officer. "We expect fiscal year 2021 results to be impacted depending on the duration and severity of the COVID-19 pandemic, but our in-demand brands, omnichannel capabilities, and healthy balance sheet position us well to weather this challenging environment."

Deckers stock more than doubled from its 52-week low of $78.70, hit in March, currently trading at $182.01. The stock has recorded a 52-week high of $203.19 in February this year.

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